tv Business Briefing BBC News March 14, 2019 5:30am-5:46am GMT
of course we start with brexit. the vote is not binding but is seen as reducing the risk of a britain crashing out without a formal arrangement, potentially very damaging for businesses and financial markets. we speak 21. the this is the business briefing. i'm sally bundock — live from westminster the pound surges as britain's parliament rejects a no—deal brexit. but businesses warn the non—binding vote changes nothing — and means yet more pound was buying $1.33. it has come uncertainty for uk firms. down since then? we speak to plus — grounded. boeing suspends all 737 max 8 jets from service — amid growing damage to the planemaker‘s finances karishma vaswani. in the initial and reputation. aftermath of the vote of a no deal, which is what asian investors were hoping for when we talked around the same yesterday, when they saw that that had happened, investors around and on the markets: you can see how the pound is trading there — holding close to a 9—month high the world, the pound rallied, after its biggest one dayjump against the euro since mid—2017. jumping by about 2% as he was saying asian shares are treading water after mixed economic 00:00:57,137 --> 4294966103:13:29,430 data from china. earlier, to that nine—month high, but since then a little reality has set in, i think it is fair to say,
as people start digesting information that while there is, there has been is vote on the fact that the mps don't want a no deal outcome, there is still a way to go until more clarity, it determines exactly what the uk will do when it comes to exiting the european union. over the next couple of days, is more of those headlines emerge, currency traders have told me that thatis currency traders have told me that that is what will determine the direction of the sterling. notwithstanding the fact that in the initial instance we did see that strong surge pushing it up to those eyes. all right, thank you for now. interesting to get the perspective from the trading floors in asia. these markets have been trading throughout. we are looking at how businesses have reacted to that. they have welcomed that vote by members of parliament rejecting an exit from the eu without a deal.
but they have warned the non—binding vote has not removed the uncertainty they are facing. the british chambers of commerce warns. . . meanwhile, the head of the ads group, the uk trade body for aerospace, defence, security and space sector, strikes a similar tone. he says... i am joined by ann francke, chief executive at the chartered management institute. nice to see you. we are getting
regular updates on what you think about all of this. give us your take on how this week has gone so far, and what it means for people who are trying to run businesses are. ride, firstly, the great irony is that all of this was about taking back control and now we have a total loss of. businesses are fed up with pushing the cliff edge to the right. if we do have a delaet needs to be a meaningful delay that comes up with a destination, with a businesses have always favoured a softer form of brexit. the chancellor hinted at this yesterday when they said they might do something sensible, like build a cross—party coalition and consensus of reasonableness. that, i think, is what businesses would welcome. when we talk about a delay, what we are most are discussing is a delay to the end ofjune, in terms of article 50. but what the prime minister, theresa may, was implying a parliament last night, is that it
could go much further than that, which would mean a much lengthier period of politicians trying to figure out what an acceptable withdrawl deal is. so this entire process could take years and years. what would that mean for businesses? again, sally, ithink for what would that mean for businesses? again, sally, i think for businesses there needs to be a plan. if it means reformulating and breaking the deadlock, i think businesses would welcome that. the current situation where you just sort of crawl along the cliff edge, pushing things ever to be right with no resolution in sight, that is what people are finding absolutely exhausting. are you hearing, we are hearing from some organisations, that, actually, this is having a significant impact on people ‘s investment decisions in the uk, companies thinking about expanding in europe ijust giving the uka expanding in europe ijust giving the uk a wide berth at the moment.
is that what you are sensing? of course. we have already seen decisions to relocate or shut down factories, relocate them elsewhere. many, many businesses are put in place contingency plans are moved to staff and officers overseas. that has already happened to a large degree. the other thing is the damage to the political process is palpable. gnabry has any faith in politicians anymore. all rise, ann francke, thank you for coming —— nobody has any. thank you for coming in and giving us your take on all of this. we will have more on that in oui’ this. we will have more on that in our news briefing. let's go to the us now where the crisis facing planemaker boeing is deepening. it has grounded its entire global fleet of 737 max aircraft — 371 planes — after investigators uncovered new evidence at the scene of sunday's ethiopian airlines crash— which killed 157 people. it was the second fatal accident involving the jet in five months — after a lion air 737 max crashed in indonesia in october, claiming 189 lives. samira hussain reports from boeing
headqarters in chicago. this is really a big dealfor boeing. this is not something that a plane maker wants to hear, that its most importantjet is no longer allowed to fly. so there's really a lot of pressure on boeing to find a fix for this plane and do it fast. there are almost 5000 outstanding orders for these planes. already there are some airlines that are talking about seeking some sort of compensation from boeing. they are in the process of upgrading the software. this is something they were working on after the line aircraft. -- lion —— lion air crash. there were reports about massive amounts of delays with regards to that update, including the 35—day government shutdown here in the united states. if you look at the market value of
boeing it has taken a hit this week on trading. so boeing needs to do something and it needs to do it quite quickly. there is the cost factor, but there is also the reputational factor as well. that is outside boeing h0, samira hussain. facebook is currently suffering the most severe outage in its history, with many of its services inaccessible to users across the world. the company has said it is trying to resolve the issue. apart from facebook itself, messenger and instagram have also been disrupted. it's not known what's causing the problem , which began at around 16 hundred hours gmt. here's dave lee. i think we can comfortably say now that this is the most severe outage that this is the most severe outage that facebook has had in its history. the last time that facebook has been down for this long, we are 110w has been down for this long, we are now over five hours into this issue, the last time it had a problem as bad as that was back in 2008. of course, the site was a most
different type of place then, it only had around 150 million users, compared to around two point viability and it has now. as you mentioned, this is affecting not only be facebook up, but what's up, instagram, even the virtual reality platform, oculus rift, that has been suffering from some disruption as well. facebook hasn't said what the cause is, although it did rule out a particular type as cyber—attack, known as a distributed denial—of—service attack that is when they pilot whale website. facebook says that is not what has happened to them does make pile onto a website. they did not rule out the cyber—attack of any other kind. i guess they are gathering what has happened and are yet to tell the public what is exactly behind this outage. as they say, the most severe outage. as they say, the most severe outage as a social network has ever had. that is dave lee with the latest on
facebook. now let's brief you on some other business stories. fiat chrysler is recalling some 965,000 petrol engined vehicles in the united states and canada to replace their catalytic converters because they do not meet emissions standards. they are mostly dodge and jeep models made since 2011. it comes on top of the diesel scandal facing the firm, which injanuary agreed an $800 million us settlement over accusations it had used software to cheat emissions test. a california jury has ordered johnson &johnson to pay $29 million to a woman who alleged that asbestos in the company's talcum powder caused her cancer. it's the latest legal defeat for the healthcare conglomerate, which is facing thousands of similar lawsuits. j&j denies allegations that its talc causes cancer, saying numerous studies and tests by regulators worldwide have shown that its talc is safe and asbestos—free.
the news briefing is very soon. that's it for the business briefing. the special olympics get under way in abu dhabi later with more than 7,000 competitors taking part. the games, billed as the "largest sporting and humanitarian event of the year" by organisers, are being staged in the middle east for the first time. great britain have sent a team of 129 athletes who will compete in 17 different sports. joe wilson has more. 3500 miles from home, this is where
sport can take you. abu dhabi is now home to 128 british competitors. preparation is almost complete. this was my dream to come here. i thought i had been everywhere representing my own country in my sport, hopefully to win a gold medal. how does it feel tabea abu dhabi? hopefully to win a gold medal. how does it feel tabea abu dhabi7m feels so exciting ——to be in. it is so feels so exciting ——to be in. it is so nice to go to a different country. the special olympics seeks a figures to spread its message. good luck, special olympians. a figures to spread its message. good luck, special olympiansm total 200 nations are part of this event, this is war than ever before. here at the football it is bangladesh versus south korea. everyone everywhere is trying to win. but at the special olympics that doesn't mean everything. tim shriver carries the ideals of sport for those with intellectual
disabilities. his mother was the special olympics founder. his uncle was president kennedy. here we are seeing something very exciting about the way human beings come together. it has nothing to do with metal counts, it has nothing to do with who b2, it has to do with giving your best. like we like to say in the special olympics, we are not interested in who was the best. we are interested in who was the best. we a re interested interested in who was the best. we are interested in your best. there is no lottery funding for britain was make special olympians, but with everything they have got they are this is the briefing, live from westminster without top stories. british mps prepare for yet another vote — whether to extend the process of brexit. this follows their decision to reject a no deal withdrawal. boeing has temporarily grounded its entire 737 max fleet as new details emerge from the crash site in ethiopia. prosecutors in northern ireland will announce today whether former soldiers are to be charged over
the killings on bloody sunday. let's talk you through how the media is digestive in the latest news with regards to brexit and some of the other stories as well. we begin with the financial times. it says theresa may has issued an ultimatum to mps to vote on her dealfor a third time or risk a lengthy delay to brexit. the daily telegraph, and its headline — "brexit delayed until further notice." it points the finger at four cabinet ministers who abstained from taking part in the no deal vote last night. the view from europe in a leading spanish paper now. it says, "brussels loses patience" and poses the question — an extension for what? ie, what is the deal? the bbc news website's been across a major online outage.
we have mentioned it already. some facebook, whatsapp and instagram users across the world are experiencing problems on the platforms. that's more from dave lee. and finally, france's le figaro. it reports french motorists convicted of drink driving are to have breathalysers installed in their vehicles. apparently, the way it works is the vehicle will not even switch on u nless vehicle will not even switch on unless the breathalyser tells it the driver is not over the